Society art dealer Kenny Schachter reveals his heartache at being duped in a $1.67 million scam led by high-flying friend Inigo Philbrick who’s been dubbed the Madoff of the art world - a year after his son took his own life
- Kenny Schachter, 58, has spoken of friendship with dealer Inigo Philbrick, 32
- Duped over painting he and Philbrick bought with another dealer two years ago
- He posted 'Wanted' and $10, 000 reward photos featuring his former pal's face
A society art dealer has alleged he was duped into a multi-million dollar art scam led by his friend of seven years - a year after his son took his own life.
Kenny Schachter, 58, from New York, claimed he is the 'only fool who's admitted his closeness' to the disappeared dealer Inigo Philbrick, 32, who has been accused of multi-millions of pounds' worth of art fraud.
Inigo, who is in a relationship with Made in Chelsea star Victoria Baker Harber, has had his assets frozen across the globe and his alleged actions have left the likes of Jay Jopling and the Reuben brothers infuriated.
'He was cute, he was funny, he charmed the pants off me, and he knew the difference [between a good painting and a bad one],' said Kenny, speaking in the May edition of Tatler.
Kenny Schachter, 58, from New York, has alleged he was duped into a multi-million dollar art scam, which was led by his friend of seven years, Inigo Philbrick, 32. Pictured, at the Kenny Schachter Masterpiece inLondon 2010
Inigo, who is in a relationship with Made in Chelsea star Victoria Baker Harber (pictured, together), has been accused of multi-millions of pounds' worth of art fraud
Kai Schachter-Rich, 21, was dating 20-year-old Lady Lola Crichton-Stuart, daughter of the 7th Marquess of Bute but took his own life in his North London home
Kenny, who last year suffered the devastating news that his son killed himself after being dumped by his society model girlfriend, alleges he lost $1.67 million (£1.35 million) of his own money over a painting he and Philbrick bought with another dealer two years ago.
However, just like Philbrick, he claims the expensive piece of art vanished.
Now, Kenny has agreed with those accusing Philbrick of deception, and has even published both 'Wanted' and $10, 000 (£8, 091) reward photos featuring his former friend's youthful face.
He goes on to say he believes he and Philbrick have had private conversations on Instagram - with the latter posing under different pseudonyms.
Kenny Schachter (pictured) is convinced he has had private conversations on Instagram - with the latter posing under different pseudonyms
Kenny Schachter and Allen Jones attend Galerie Gmurzynska with Baur Au Lac Present Art in the Park on June 12, 2010 in Zurich, Switzerland
Speaking of one instant, the correspondent he believes to be Philbrook, wrote: 'If he's smart enough to do it in the first place, he's smart enough to make good on it.'
Kenny's revelations come after it was revealed the wealthy art dealer’s son killed himself after being dumped by his model girlfriend.
Kai Schachter-Rich, 21, was dating 20-year-old Lady Lola Crichton-Stuart, daughter of the 7th Marquess of Bute.
The couple enjoyed a glamorous lifestyle posting glossy images of parties, art shows and globetrotting jaunts on Instagram.
But investigators suspect Mr Schachter-Rich could not face life without his girlfriend. His body was found at his north London home.
Investigators suspect Mr Schachter-Rich could not face life without his girlfriend after she sent him a text message to end their relationship
A post mortem examination found he took a cocktail of drink and drugs before hanging himself.
Mr Schachter-Rich was the son of New York art dealer Kenny Schachter and artist Ilona Rich.
His maternal grandfather was Marc Rich, a financier known as the ‘king of commodities’ after founding multi-billion dollar company Glencore.
His grandson had been attending Slade School of Fine Art in London and lived in both London and New York. St Pancras Coroner’s Court was told Mr Schachter-Rich was found dead at his home on March 11.
His friend Jordan Vickers went to the property after Lady Lola said she had not heard from him all day.
Mr Vickers climbed through a first floor window of Mr Schachter-Rich’s flat after several attempts to contact him by phone.
Paramedics arrived at 10.22pm and pronounced Mr Schachter-Rich dead shortly after. Police also found an empty bottle of whisky as well as cannabis.
PC Alex Bratterman said he discovered a text message to Mr Schachter-Rich from Lady Lola, which appeared to have ended the relationship.
Kai Schachter, the grandson of Manhattan socialite Denise Rich and her late husband Marc died in London after taking his own life
In a tribute after his death Lady Lola said: ‘You taught me so much about life and love, my role model, my rockstar
His maternal grandfather was Marc Rich (pictured) was a financier known as the ‘king of commodities’ after founding multi-billion dollar company Glencore
His grandmother Denise Rich pictured with Michael Jackson, Hillary and Bill Clinton in 2001
It is not clear if Mr Schachter-Rich had seen the text.
No note was found.
A toxicology report found Mr Schachter-Rich was drunk when he died but not incapacitated.
Kai was one of four children of artist Ilona Rich Schachter and art dealer Kenny Schachter. The couple are pictured together in 2006
Traces of ecstasy, cocaine and cannabis were also found in his body, although they did not contribute to his death.
Lady Lola, a socialite and model, has appeared in society bible Tatler.
Her father Johnny Crichton-Stuart, the 7th Marquess of Bute, is a former Formula 1 driver who won the 1988 24 Hours of Le Mans race.
Lady Lola and Mr Schachter-Rich had celebrated Valentines’ Day just weeks before the tragedy.
Writing after his death, she said: ‘You taught me so much about life and love, my role model, my rockstar.
A life without you is a life I can’t bear the thought of. The thought you were in pain and suffering in silence breaks my heart.
I wish I could have done more to save you. You made this world a better, brighter place with your epic energy and goofy grin and huge heart.
‘I loved you with every bone in my body and more.’
Recording a conclusion of suicide, Assistant Coroner Sarah Burke said: ‘It isn’t entirely clear why this young man decided to end his life.
‘It may have been because of a breakdown of his relationship or by other causes that will remain unknown. Kai was a bright man with a bright future.’
British socialite Lady Lola Crichton-Stuart posted multiple tributes to Kaie following his death and described him as the 'love of her life'
